In chat with Anil Singhvi, IDBI Bank MD & CEO Rakesh Sharma reveals future growth plans post-PCA framework exit
IDBI Bank is now out of Prompt and Corrective Action (PCA) framework. The Reserve Bank of India (RBI) took the decision in this regard on 10th March 2021.
IDBI Bank is now out of Prompt and Corrective Action (PCA) framework. The Reserve Bank of India (RBI) took the decision in this regard on 10th March 2021. Zee Business Managing Editor Anil Singhvi has been vocal about the business and asset growth possibility of the bank after its exit from the PCA framework. Today, the Market Guru talked to IDBI Bank's MD & CEO Rakesh Sharma to find out more about the bank's plans in regard to business growth, assets and advances and the future plans.
When Anil Singhvi asked about the benefits stemming from the exit from PCA framework, Rakesh Sharma said, "After coming out of the PCA framework, we would be getting more business as the bank would be able to focus on loan and deposit business, which was earlier limited."
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On how this new avenue for business will translate into the IDBI Bank's growth, Sharma, "Today our retail business is around 60 per cent while the rest 40 per cent is corporate business. Now, we will be able to enhance our corporate business and in the coming financial year, we are expecting 8-10 per cent asset growth while expected CASA deposit growth is to the tune of 12 per cent."
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PCA से बाहर निकलने परकारोबार में अच्छी ग्रोथ पर आएगी, बेहतर वैल्युएशंस मिलने पर इंश्योरेंस कारोबार में हिस्सा बिक्री संभव: राकेश शर्मा, MD & CEO, @IDBI_Bank#NewsParViews #IDBIBank @AnilSinghvi_ pic.twitter.com/FGzfExrdBZ
— Zee Business (@ZeeBusiness) March 23, 2021
When Anil Singhvi asked about the IDBI Bank's plans in regard to its 25 per cent stake in the insurance company, Sharma replied, "If there will be a better proposal, we will think of selling our remaining stake as our current partner in the insurance company has 49 per cent stake and FDI in insurance sector is allowed up to 74 per cent. If we get better proposal from them, then we may think of selling the rest of the stake to them. But, right now, there is no such proposal on our table."
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